August 3, 2009 2:59:32 am
Union Power Minister Sushilkumar Shinde inaugurated the Pune branch of Samarth Sahakari Bank Limited and its national connectivity ATM on Saturday evening. Shashank Inamdar,CFO and MD,Praj Industries,MV Babu,former DGM,Bank of India were also present on the occasion.
Shinde said majority of the cooperative banks limit their clientele to a particular community who constitutes majority of its members. But the founders of the Samarth Sahakari Bank do not believe in limiting their services,this is commendable. He also stated that small cooperative banks are essential for nation building.
Dilip Atre,chairman of the bank said the bank started its first branch at Solapur in 1996 and received an ISO certification within an year. Then,Samarth Sahakari Bank was the first one to receive an ISO certification. He said the bank has deposits to the tune of Rs 130 crore and has consistently recorded profit over Rs one crore. He said this was the banks first branch outside Solapur and many more branches would be open in near future. He said customers of the bank can now use more than 7,000 ATMs across the country for banking transactions.
Inamdar lauded the Indian banking system for its resilience.
Best of Express Premium
📣 Join our Telegram channel (The Indian Express) for the latest news and updates
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.